Top Southern California 18-Month CD Rate at Borrego Springs Bank - Local Only


At the first look of Borrego Springs Bank's rate table, nothing appears noteworthy. However, if you look closer, there's one gem. It's the Jumbo CD with a 18-to-23 month term. It has a competitive rate of 1.50% APY. Minimum deposit is $100,000. The non-Jumbo version has a much lower rate and isn't competitive. This 1.50% APY 18-month CD is listed in the bank's rates page as of 7/14/2011.

I was a little suspicious of this one high rate, so I called the bank yesterday. According to the bank rep, this rate is correct. It's a special rate, and it's not new. It has been around for the last several months. Rates are typically changed on Wednesdays, so this special should continue at least until next Wednesday.

A branch visit is required to open an account. Borrego Springs Bank branches are located in Southern California. One is in La Mesa which is close to San Diego.

The bank has an overall health score at of 4 stars (out of 5) with a Texas Ratio of 9.60% (above average) based on March 2011 data. Please refer to our financial overview of Borrego Springs Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 24080).

How This CD Rate Compares

The best nationally available 18-month CD rate is 1.55% APY at Alliant Credit Union (as of 7/14/2011). For a bank, the best deal is currently at Incredible Bank which offers a 1.50% APY 19-month internet CD.

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Anonymous   |     |   Comment #1
It's a sad day when a 1.5% 18 month CD rate is considered "suspiciously" high. :(
Shota (anonymous)   |     |   Comment #2
Agree with Anonymous! Rates used to be 4-5% just 3 years ago and now banks pay way less and get money even cheaper from the government.